The New Zealand Association of Credit Unions (NZACU), sponsor awaited Financial Literacy Summit, is aimed to offer every possible support towards financial literacy. NZACU credits to represent around 21 out of 27 active credit unions of New Zealand which are engaged to assist their members with budgeting and saving, as well as helping to guide them through difficult financial situations.

The summit is believed to feature a wide range of international keynote speakers on Financial Literacy, as an attempt to unite New Zealanders working in the area of financial literacy education.

The Chief Executive Officer of the credit union, Henry Lynch, applauded the union for its constant support and contribution to improve financial understanding among the members and claimed to be a supporter of National Strategy to improve financial literacy.

While pinpointing the attributes of credit union, the CEO said: "Working closely with members to help them find the best way to get out of debt is at the core of what credit unions strive to do..and of course, once they are debt free, continue to encourage them to save for their future goals".

Additionally, the Retirement Commissioner, Diana Crossan, has directed the banks to update customers about time limits to repay credit card debt at the minimum amount in their monthly statements.